Veteran commercial real estate executive Bob Knakal parted ways with Cushman & Wakefield this week, reportedly after the firm got wind he was in talks with other brokerages.
“I can confirm that Cushman & Wakefield terminated its relationship with Bob Knakal effective immediately,” a company spokesperson told Real Estate Weekly.
With just a week left on his contract, Knakal was let go after the brokerage learned he was entertaining offers from other companies, according to a report in the Commercial Observer. Knakal could not be reached for comment.
The well-known Knakal was chairman of New York investment sales at Cushman & Wakefield. He departure comes three-and-a-half years after Knakal and his partner Paul Massey sold their eponymous firm to the real estate giant for a reported $100 million.
The two had founded Massey Knakal Realty Services in 1988 and grew it to more than 200 brokers working with more than 200,000 property owners in New York City, Westchester County, Long Island and New Jersey. The firm was best known for dominating the market for midsized office, retail and multi-family building sales, and its in-depth knowledge of neighborhoods.
Knakal’s termination is the latest in a series of high-profile departures from the firm.
His former partner resigned his position as president of New York investment sales in April to reportedly start his own firm.
James Nelson, a vice chairman in the capital markets group and Massey Knakal alumni, left C&W in January for Avison Young. Peter Hennessey, an executive vice chairman at C&W, was fired in March.